Nigeria Hails Saudi’s Decision to Further Cut Oil Supply

Nigeria Hails Saudi’s Decision to Further Cut Oil Supply

Nigeria Hails Saudi’s Decision to Further Cut Oil Supply – Nigeria has expressed appreciation to the Kingdom of Saudi Arabia over its recent voluntary reduction in its crude oil production.

This was made known by the Minister of State for Petroleum Resources, Mr Timipre Sylva, in a statement released and sighted by Business Post on Friday.

The world’s largest exporter and de-facto leader of the Organisation of the Petroleum Exporting Countries (OPEC) recently took a decision to reduce its production by one million barrels per day from next month in order to support the slump in oil demand that had brought the price of crude oil to a devastating low.

The cut was in addition to the earlier one agreed by members of OPEC+, which was signed on April 12, 2020. In the deal, oil producers agreed to cut about 10 percent of global oil supply in order to stem the slide in oil prices which has affected Nigeria’s revenue.

Notably, the minister linked the gradual revamp of crude oil prices in the last few days to the actions by the Saudi government.

Another cut was also announced by Nigeria’s fellow OPEC members, Kuwait and the United Arab Emirates (UAE) in order to push prices up by slashing supply of the commodity to the global market.

Despite technical and other challenges, Mr Sylva assured that Nigeria has been working assiduously to keep to the April 12 OPEC+ agreement that will see the country reduce up to 400,000 barrels per day.

You may like

3 Comments

1. I don’t have money
2. I can’t talk to people
3. I don’t do stuff like this
4. I’m too Busy

Your excuses may be legit but they won’t improve your Life.

• *Lavita Ricca Investment is Fully Registered with with FGN. with RC NO 1582489( For those Who Think Lavita Ricca is Not Registered)* *Contact Administrator Management Mrs. ELIZABETH TINA On *(09036369810)

*Lavita Ricca Investment is a platform network that deal with investing of money just within 45 minutes you will get back your money double*

*I know you are skeptical about this because of the negative experience a lot of issues as regards scamming in the MMM. I assure you 101% that you won’t lose your money this is because I know the risk of this profit oriented business and I know how to avoid them using my trading skills and signals to make only wins and no losses.*

*Are u a worker?*

￼ *Are u a student looking for your school fees? Are u a woman looking for money to pay your children school fees?*

￼ *Are u jobless and u need where u can make source of income?*

￼ *Lavita Ricca Investment is here for you! With a little amount u can earn and make more more source of income without any problems*

￼ *Lavita Ricca Investment is a platform network that deal with investing of money just within 45mins you will get back your money double*
*Thank you for your time you can click on the link below to get started, please only serious minded people are expected to message the administrator.🙏…

INTRODUCTION
Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.

CONTACT NAME:- ELIZABETH TINA

HOT LINE:+2349036369810

ITS SIMPLE HERE !!!!!!!
We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
You pay directly to us and we credit you directly.

+2349036369810

Note:you get credited in less than 45mins.

CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING

NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem. 🙏 🙏 🙏….